The bdi will keep falling till end of February, we need ER ASAP!!
Why 2.25?? How many times e/p? assuming what CPI ?? What TCi for bulker and tankers?? How many drilling days?? Or u are just guessing?? Why not 0,50 cents ??
U can buy again at 0.80s !!!
Asia Dry Bulk-Capesize rates to slip further, broker says too many ships in mkt
in Dry Bulk Market 19/12/2014
Rates for capesize bulk carriers on key Asian routes will come under further pressure next week after the price of an Australia to China voyage tumbled to a new six-year low on Wednesday, brokers said.
“There are too many ships. It’s a charterer’s market,” said a Singapore-based capesize broker on Thursday.
“The outlook is for a bleak first quarter next year.”
Freight rates from Australia to China have dropped to around $5 per tonne, the lowest level since Dec. 10, 2008. Capesize rates from Brazil to China are the lowest since January 2009.
Australian miners are still chartering vessels but the volume of cargoes has not been enough to offset the absence of cargo from South Africa and iron ore cargoes from Brazil, the broker said.
BHP Billiton, Rio Tinto and Fortescue Metals Group together chartered 11 capesize ships on the open spot market in the past week, according to Reuters chartering data.
The same miners chartered 10 capesize vessels between Sept. 22-26 when freight rates were about 50 percent higher at $7.50-$7.95 per tonne.
Rio Tinto fixed a capesize voyage from Dampier to Qingdao in China at $5.05 per tonne, brokers and Reuters freight data showed.
“We are at levels where the market cannot fall significantly further and we now see several owners not willing to trade,” Norwegian shipbroker Fearnley said in a weekly note on Wednesday.
Freight rates for the Western Australia-China route were at $5.14 per tonne on Wednesday against $5.67 per tonne last week.
Rates for the Brazil-China route were down to $12.47 per tonne on Wednesday compared with $15.18 per tonne last week.
Rates in the smaller panamax market were showing mixed signals on Thursday, said a Singapore-based panamax broker.
Prices for China and north Pacific voyages were trending lower, he said. But owners were resisting charterers’ attempts to push rates lower for trips from Indonesia on buoyant cargo volumes, he said.
Rates for a panamax transpacific voyage fell to $6,537 per day on Wednesday, down from $7,341 last week. That is the lowest level since Sept. 4.
Freight rates for smaller supramax bulk carriers have held steady at around $13,000 per day for voyages from Indonesia to India, Fearnley said in its weekly note.
The Baltic Exchange’s main sea freight index closed at 827 on Wednesday, down from 911 a week earlier. Technical analysis showed the benchmark may drop towards 677 in a week.
The next dry bulk report will be on Jan. 8 due to the Christmas and New Year holidays. Source: Reuters (Reporting by Keith Wallis; Editing by Joseph Radford)
Rates for capesize bulk carriers on key Asian routes, which crashed close to six-year lows on Wednesday, will continue their inexorable fall in the face of few fresh cargoes, brokers said.
“The market is not very pretty. I’ve never seen it this low in my time. There is absolutely nothing happening,” one Singapore-based capesize broker said on Thursday.
“Capesizes are a disaster,” a Hong Kong owner of dry bulk ships including capesize vessels told Reuters on Thursday.
Capesize spot rates from Australia to China are down to the equivalent to $5,500 per day, below the daily cost of operating a 180,000 dwt (deadweight tonne) capesize ship, the Singapore ship broker said.
Daily operating costs, including crew wages, repairs and insurance, for a capesize iron ore and coal carrier are around $7,300 per day, according to accountancy firm Moore Stephens.
Rates have fallen due to a lack of iron ore cargoes from Brazil and coal from South Africa. There have been limited cargoes from Australia, the Singapore broker said.
Rio Tinto was the only major miner actively chartering capesize ships this week, according to Reuters freight data.
“There is no sign of a rebound. The market keeps coming off,” the broker said.
The capesize market is “imploding on a close to total absence of prompt demand,” Norwegian ship broker Fearnley said in a weekly note on Wednesday.
Freight rates for the Western Australia-China route were at $5.67 per tonne on Wednesday, the lowest since January 2009, and down from $6.79 a week earlier.
Rates for the Brazil-China route were also at their lowest since January 2009 on Wednesday, closing at $15.18 per tonne against $16.72 a week earlier.
Rates in the smaller panamax market will also continue to slide next week as the number of ships available for charter outpaces the volume of new cargoes, a Singapore-based panamax broker said on Thursday.
“I think it will steadily soften over the next week. We are still seeing a lot of tonnage available,” he said.
Daily rates for a panamax transpacific voyage fell to $7,341 per day on Wednesday, down from $8,263 per day last week. This is the lowest level since Oct. 1.
Freight rates for smaller supramax bulk carriers rose to around $13,000 per day, up from $12,000 per day, for voyages from Indonesia to India, Fearnley said in its weekly note.
The Baltic Exchange’s main sea freight index closed at 911 on Wednesday, down from 1,079 last week.
Source: Reuters (By Keith Wallis, Editing by Anand Basu)
Drys isnt for u, This stocks requires cojones, try Johnson and Johnson more exactly the women personal care unit!!!!
Falling more than 2 %.